Raymond James Issues Positive Estimate for Methanex Earnings

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Investment analysts at Raymond James upped their Q3 2024 earnings per share (EPS) estimates for shares of Methanex in a note issued to investors on Tuesday, October 22nd. Raymond James analyst S. Hansen now expects that the company will earn $0.92 per share for the quarter, up from their prior estimate of $0.71. The consensus estimate for Methanex’s current full-year earnings is $5.95 per share. Raymond James also issued estimates for Methanex’s Q4 2024 earnings at $1.95 EPS and FY2024 earnings at $4.48 EPS.

MX has been the topic of several other reports. Barclays downgraded Methanex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Piper Sandler raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Tudor Pickering upgraded Methanex to a “strong-buy” rating in a report on Wednesday, September 11th.

Methanex Stock Performance

TSE:MX opened at C$56.32 on Friday. The firm has a market capitalization of C$3.80 billion, a PE ratio of 19.35, a PEG ratio of 0.44 and a beta of 1.79. Methanex has a 1 year low of C$49.21 and a 1 year high of C$74.25. The company has a current ratio of 1.25, a quick ratio of 1.59 and a debt-to-equity ratio of 131.58. The firm’s fifty day simple moving average is C$57.51 and its 200 day simple moving average is C$63.80.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$0.85 EPS for the quarter, beating the consensus estimate of C$0.66 by C$0.19. Methanex had a return on equity of 10.21% and a net margin of 4.06%. The company had revenue of C$1.26 billion for the quarter, compared to the consensus estimate of C$1.35 billion.

Insider Transactions at Methanex

In other news, Senior Officer Kevin Price purchased 500 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average price of C$50.69 per share, with a total value of C$25,347.00. In other Methanex news, Senior Officer Kevin Price purchased 500 shares of the stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of C$50.69 per share, with a total value of C$25,347.00. Also, Director Dean Richardson acquired 1,500 shares of Methanex stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of C$50.52 per share, with a total value of C$75,780.00. In the last 90 days, insiders have purchased 4,953 shares of company stock worth $262,064. 0.35% of the stock is currently owned by company insiders.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.